SMBC Aviation Capital has concluded a lease agreement for 20 Airbus A320neo aircraft with Spirit Airlines, one of the biggest low-cost carriers in the United States.

The agreement with Spirit comprises the sale and leaseback of 14 A320neo aircraft, to be delivered from November 2021 through September 2022, in addition to six direct A320neo lease placements from SMBC Aviation Capital’s own orderbook. These will be delivered to Spirit from September 2022 through February 2023.

Spirit’s fleet consists of 168 aircraft serving 83 destinations throughout the US, Latin America and the Caribbean.

“Our partnership with SMBC Aviation Capital plays a pivotal role in helping us achieve our previously announced capacity plans for 2022 and 2023," says Spirit Airlines vice president and treasurer Simon Gore.

SMBC Aviation Capital is one of the top five aircraft lessors globally, with a fleet comprising over 730 owned, managed and committed aircraft, of which 60% use the latest, most fuel-efficient and lowest-polluting technology on the market. Its shareholders are Sumitomo Mitsui Financial Group and Sumitomo Corporation. 

For the financial year to March 31 2021, SMBC Aviation Capital closed US$3 billion of new sale and leaseback transactions.